Hey Company holds 90,000 shares of Lay Company for a total cost of P6,300,000 as of December 31, 2019. It received

dividends from its ordinary share investments during the year 2020 as follows:

Feb. 1: A property dividend from Lay Company for 20,000 shares of Rel Company. On that date, the market value of

Lay's share is P100 while Rel's share is P80.

April 1: A cash dividend of P1,700,000 in lieu of 20% share dividend from Lay Company. On that date, the market value of

Lay's share is P90.

June 1: 10,000 shares of Rel Company in lieu of cash dividend of P40 per share. On that date, the market price of Rel's

share is P60.

Aug. 1: 10% share dividend from Lay Company.

On October 1, Hey Company sold 33,0000 shares of Lay Company for a total consideration of P2,800,000.

1. What total amount of dividend revenue should Hey report in its 2020 income statement? __________

2. What total amount of gain (loss) on sale to be recognized for 2020 in relation with the above transactions? __________

3. What is the total carrying amount of Hey Company's equity investments on December 31, 2020? __________